Half Motor Industry in Outside Hands?
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IF the proposed • acquisition of a I majority interest in the Standard Motor Co., Ltd., by the Canadian Massey-Harris-Ferguson concern went through, over half of the British motor • industry would fall into North American hands.
This was stated by Mr. M. Edelman (Lab.. Coventry North) in the House of Commons last week. He deplored this possibility, for if American corn. panics had to choose, in the event of a slump, between unemployment in Detroit and unemployment in Coventry, they were Unlikely to prefer the former.
Mr. Nigel Birch, Economic Secretary to the Treasury, reminded Mr. Edel man that in February he had noted the Standard works as a candidate for nationalization. Perhaps Mr. Edelman thought that he would be robbed of a victim if the Canadian purchase was concluded.
• The Government believed it was the intention of Massey-Harris-Ferguson to concentrate their tractor production in Coventry, and Britain would therefore be able to increase eiports to North America.
In the first six months of the• year, American-controlled companies in Britain produced about two-fifths of the country's total car output and about a third of the commercial vehicles.
There had been minor recessions in American motor industries in the past few years, but no repercussions. upon the British associates.